GREENVALE ENERGY LTD — Director's Dealing 2007

Nov 15, 2007

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y - Amended

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity	Greenvale Mining NL
ABN	54 000 743 555

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Elizabeth Katherine Stoliar
Date of last notice	Not applicable

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.
Date of change
No. of securities held prior to change	64,200
Class	Contributing shares
Number acquired
Number disposed
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation
No. of securities held after change	64,200 contributing shares

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	Deed of call option between Elizabeth Katherine Stoliar and Captain Starlight Nominees Pty Limited over shares in Greenvale Mining NL ("the Deed of Call Option")
Nature of interest	A direct interest as the grantor of a call option as defined in the Deed of Call Option over shares in Greenvale Mining NL held in the name of Elizabeth Katherine Stoliar
Name of registered holder (if issued securities)	Elizabeth Katherine Stoliar
Date of change	24 October 2007, being the date of the Deed of Call Option
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	64,200 contributing shares
Interest acquired	Elizabeth Katherine Stoliar is the grantor of a call option over shares held by her in Greenvale Mining NL pursuant to the terms of the Deed of Call Option.
Interest disposed	Captain Starlight Nominees Pty Limited is the grantee of a call option from Elizabeth Katherine Stoliar over 64,200 contributing shares held by her in Greenvale Mining NL pursuant to the terms of the Deed of Call Option. No interest is disposed of by Elizabeth Katherine Stoliar unless the call option is exercised.
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	$8,322.22 being the call option fee relating to the shares in Greenvale Mining NL referred to above
Interest after change	Captain Starlight Nominees Pty Limited may at any time prior to 5.00pm on 13 November 2007 exercise the call option granted to it by the Deed of Call Option requiring Elizabeth Katherine Stoliar to sell to Captain Starlight Nominees Pty Limited, or its nominee, the shares referred to above. The call option was exercised on 13 November 2007.

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002